We just wanted to take a minute to wish you a happy New Year! It’s hard to believe that 2019 has come to a close. It’s been an amazing year thanks to your continued support. The things we’ve accomplished this year, and always, wouldn’t be possible without you. We so appreciate your business, referrals, and friendship, and we’re excited to see what lies ahead. The future is full of possibilities, and we hope you are as excited for this upcoming year as we are. Here’s to making 2020 our best year yet! If you are thinking of buying or selling a home this year, please don’t hesitate to reach out to us with any questions. As always, we are here to help. We look forward to seeing you in 2020!
What does the future hold for buyers and sellers in our real estate market? You may have heard stories telling you that the sky is falling, but it’s not. On the contrary, the future is still pretty bright. We do expect a housing shortage, unfortunately, and that will cause prices to continue to rise. Over the course of 2020, we expect appreciation rates to be around 5%, which is a slight drop compared to what we’ve seen in previous years.
With January right around the corner, a lot of people tend to start thinking about their goals for next year, and these goals include real estate. When setting your goals, it’s always good to be as prepared as possible when it’s time to pull the trigger. If you plan on selling in April or May, for instance, you should start fixing things up around your house right after Christmas so you don’t have to do it all at once. If you’re thinking about buying soon, talk to a lender now.
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When setting your goals, it’s always good to be prepared when you want to pull the trigger.
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On a final note, I have a request to make of you. The holiday season is in full swing, which means everything is bright and cheery, but it’s not a joyous time for everyone. Keep these people in your thoughts and make their world a little brighter if you can. For example, try bringing an extra plate of food to the nice lady down the street who doesn’t have any family. This kind of thing is great to have your kids or grandkids be a part of as a learning experience. Until next time, if you have any real estate questions, don’t hesitate to reach out to me. I’d love to help you, and I hope you have a happy holiday season.
Is homeownership always the right decision when it comes to the debate of whether to buy or rent? Let’s say that you’re renting a home now and thinking about buying, but you also know that you’ll be leaving the area within a few years. In this particular case, homeownership is probably not the best idea because you won’t build up enough equity to make the investment worth it. Even then, it could still be a good idea if you want home security for your family or to turn the home into a rental property.
If you’re renting a home for $1,800 per month and you rent for three years, that’s $65,000 that you’ve spent on rent. What have you received? A home to live in, but no other financial benefits. No appreciation, no tax deductions.
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The money you spend on your home purchase will go towards much more than your rent.
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If you buy a home and the mortgage payment is $1,800 per month, that $65,000 you will spend in three years will not only go towards your rent, but for your interest and taxes as well. You will get a portion of what you’ve spent back at the end of the year, and continue to build up equity in your home over time.
So homeownership isn’t the right decision in every single case, but it is a wise move in most cases. If you have any additional real estate-related questions for me, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
